Business Desk, AnyTV, New Delhi
Published by: Deepak Chaturvedi
Updated Sat, 26 Feb 2022 12:44 PM IST
Summary
Russian Billionaires Lose 39 Billion In 24 Hour’s: According to a report, as soon as Russian President Vladimir Putin announced military action in Ukraine, the stock market fell heavily. Due to this, Russian billionaires suffered a loss of $ 39 billion (about Rs 3 lakh crore) in a single day.
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The fifth major fall in market history
This huge loss within 24 hours shook the richest people of the country. Along with this, there was a fear in them that if this war went on for a long time, they might have to bear more losses. Let us tell you that the fall in the Russian stock market on Thursday during the attack was the fifth biggest fall in the history of the stock market. Russia’s benchmark MoX index closed down up to 33 per cent.
Worst day since Black Monday of 1987
The Russian currency ruble hit its all-time low as the stock market crashed. Significantly, this fall in the history of the stock market was the biggest since the Black Monday crash of 1987. Investors lost more than $50 billion on Black Monday. It was said in this report that this big fall in the stock market of Russia is one of the worst days in the country’s stock index history.
most affected after World War II
The stock market has been badly affected due to the worst period going on in Europe since the Second World War. Due to the dispute with Ukraine, Russia is facing economic sanctions from many big countries including America. Because of this, the billionaires of Russia are suffering a lot. Its effect is directly visible. Another report in the past said that due to the Russia-Ukraine dispute, the wealth of the country’s top 23 billionaires has decreased by $ 32 billion.
Big blow to these Russian billionaires
According to the report, Lukoil President Vagit Aleperov suffered the biggest loss in a day, his net worth fell by almost a third in a day. Which decreased by about $6.2 billion. Shares of the Moscow-based oil producer had fallen as much as 33 per cent on Thursday. After this, Alexey Mordashov, chairman of steelmaker Severstal, lost $4.2 billion on Thursday, leaving his wealth at $23 billion. After this, Vladimir Potanin, the president of Norilsk Nickel and currently Russia’s biggest rich, has lost $3 billion.